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House Price Crash Forum

guest_northshore

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  1. Zero in my local authority too. From 2016 to 2020. Edit: zero total with respect to any obligation under the 2015 (amended) Act. But thousands of new and planned builds by Barrat, Persimmon, Bovis, Taylor Wimpey, Kier.
  2. Yep. All else equal means higher land and housing prices resulting from lower planning risk, and lower quality buildings. Will make zero difference to total future supply. Just more money for land owners and volume developers (land price speculators).
  3. The cut will quickly be capitalised into asking and then selling prices if banks keep lending and people keep borrowing (if a buyer could afford X price + Y stamp duty then sellers know they can still afford X+Y, and due to potential to leverage a larger available cash deposit prices may rise more than the stamp duty cut). But the move was telegraphed by the media so may already be too late to 'take advantage' of it. Also now potentially competing with BTLers paying lower stamp duty than previously. But no idea what how this will interact with opposing forces like job losses, recession, scheme ending (if it ends) in April.
  4. https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates#higher-rates-for-additional-properties
  5. https://www.gov.uk/guidance/coronavirus-covid-19-community-infrastructure-levy-guidance or Google "Government tells councils to allow developers to defer affordable housing obligations" for Inside Housing article: "Councils have been told to allow developers to delay affordable housing and infrastructure payments in a bid to support housebuilding during the coronavirus crisis"
  6. "The ONS and the joint producers have taken the decision to temporarily suspend the UK House Price Index (HPI) publication from the April 2020 index (due to be released 17 June 2020) until further notice. The impact of COVID-19 is expected to greatly reduce the amount of housing transactions that took place in April 2020, making it very difficult to produce a measure of UK house prices that would be representative of any true transaction activity within the housing market. We will continue to closely monitor the flow of transaction data with the view to reinstating the UK HPI as early as is practicable. Further details will be available in the March 2020 UK HPI, due to be released 20 May 2020." https://www.ons.gov.uk/economy/inflationandpriceindices/articles/coronavirusandtheeffectsonukprices/2020-05-06
  7. Well I read somewhere that the Conservative Party exists to marry the unreconcilable notions of democracy and landlordism. So yeah why not.
  8. Indeed. Most commercial rental values are now zero. Even without Government lockdown intervention many would still relect near zero demand thus near zero value, as with some airlines etc.
  9. Urgh https://www.telegraph.co.uk/business/2020/05/02/landlords-talks-furlough-shops-restaurants-rents-go-unpaid/
  10. Bush did it in 2008 (cheques and rebates)
  11. Looks like monetary authorities telling fiscal authorities it's over to you now. Whether Goverments and politicking generally heed the message is another matter.
  12. https://www.bloomberg.com/news/articles/2020-03-15/fed-cuts-main-rate-to-near-zero-to-boost-assets-by-700-billion Edit: https://www.bankofengland.co.uk/news/2020/march/coordinated-central-bank-action-to-enhance-the-provision-of-global-us-dollar-liquidity https://www.bankofengland.co.uk/news/2020/march/statement-from-the-governor-of-the-boe-mark-carney-and-incoming-governor-andrew-bailey
  13. BoE press conference: https://www.youtube.com/watch?v=z_O0hztMfuc
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